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Unformatted text preview: i. Diminishing c. Budget line i. Income changes ii. Price changes d. Goal: maximize total utilitysubject to budget constraint e. Maximizing rule 3. Example 4. Effects of budget change 5. Another example 6. Effects of price change a. Substitution effect b. Income effect 7. Even more examples III. NEXT TIME A. Finish Chapter 10: The Logic of Individual Choice...
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This note was uploaded on 01/16/2012 for the course ECON 2010 taught by Professor Roussel during the Spring '08 term at LSU.
- Spring '08